My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Welcome back to the SilverTowne Vault Cast. Today were going to talk a lot about Gold and how it's dropped and the economy and some thoughts I have about this perceived improvement. More in the news about China’s demand for gold and another report of thieves breaking in and stealing a coin collection from a family.
Before I get into all this, I want to remind you that you can subscribe to The SilverTowne Vault Cast in iTunes and on YouTube. If you have a few minutes to leave a comment, some feedback or share the video that would be much appreciated and will really help advance this show. I thank you for your continued support.
Now lets get into today's precious metals pricing!
Gold - $1570.72 Up $6.27
Silver - $28.66 Up $ .13
Platinum - $1601.20 Down $41.80
Palladium - $718.50 Down $18.02
China’s gold demand to beat supply by 2015
Chinese consumers' insatiable longing for gold is set to provide a strong push for local mines, as the country’s demand for the precious metal is expected to surpass supply by at least 550 metric tons by 2015, data from China Gold Association showed Saturday.
According to the latest statistics released by the organization, the nation bought a total of 832.18 tons of gold, 71.13 tons, or 9.35% more than in 2012,reports Xinhua.
Gold jewellery imports increased 10.09% year on year to 502.75 tonnes, while those of gold bars and gold coins gained 12.22% and 21.63%, respectively, to 239.98 tonnes and 25.3 tonnes.
According to the World Gold Council latest figures, global demand for gold as an investment increased 2% in the fourth quarter, reaching 65.5 tons, with China’s import rising 24% in the same period.
Demand for the yellow metal in China has experimented a solid growth over the years to the point the nation is now the world's second-largest gold consumer after India.
China has also been the world's biggest producer of gold for six years since 2007, with an annul output of 403 tons in 2012, a year-on-year growth of almost 12%.
But a projected production increase is unlikely to meet rising demand, industry analysts quoted by CRI said.
"Imports of gold from other countries and regions will help fill the gap between gold demand and supply," Li Yang, a Shanghai-based gold investment analyst, was quote as saying.
Chinese demand is expected to be boosted further by the imminent launch of a gold-backed exchange traded fund in the country. Last year a ban on interbank gold trading also contributed to rising demand.
Chinese retail investors have flocked to gold because of a lack of other investment opportunities in the communist country. Read More....
Gold Hits 6-Month Low, Silver Falls Below $30
Precious metals split Tuesday with platinum and palladium advancing as gold and silver declined.
Gold in early trading came within 20 cents of hitting $1,600 an ounce. By day’s end, it notched a fourth straight session loss and closed at a more than six-month low.
Gold futures for April delivery settled down $5.30, or 0.3%, to $1,604.20 an ounce on the Comex in New York. The precious metal traded as low as $1600.20 an ounce and reached an intraday high at $1,618.80 an ounce. Gold’s closing price was the lowest since it marked $1,602.40 an ounce on August 14. Read More...
Are You About to Lose Your Savings in the Currency War?
You may not have even noticed, but the first shots have already been fired in the next World War.
Only this time there are no tanks, fighter jets, nuclear subs, or missiles. And it's not the North against South, or even East against West.
It's war by other means and it pits fiat currency against fiat currency in a multi-trillion dollar knock-down drag out between the world's central bankers.
At stake is nothing less than the value of your life savings.
Its goal is to cheapen worldwide currencies-which could make every dollar you own worth even less.
Thanks to horrible fiscal mismanagement, virtually every nation in the world now wants its own currency to become cheaper against those of other nations.
Welcome to the currency wars.
Think of it as a race to the bottom. But where it stops nobody knows
Read More...
We Must Avoid Economic Collapse
The American economy is being destroyed by our inability to manufacture competitively on the global stage, and by our government’s out of control spending. It is crucial that our leaders develop a strategy to get the United States back on the road to economic prosperity, and fast! We are losing too many jobs due to our “free trade” agreements and poor economic policies, leaving us in desperate need of a plan that will foster job creation before our economy collapses completely.
Our government officials need to address the deteriorating industrial base. There must be a strategy in place to spur job creation. Free trade agreements and outsourcing have decimated our manufacturing base. We no longer produce the goods that we need to sustain ourselves. Instead, we import everything. Nearly all of our manufactured goods come from overseas. Read More...
Thieves steal more than $1,000 in change from a Virginia Beach couple’s home.
A roll of Michigan quarters is all that’s left of a collection Lori Skytta had been collecting for nearly a decade.
Skytta says she made a project of collecting rolled state quarters- the rest of the change was in a five gallon water jug. But that was all taken on Valentine’s Day.
Lori says her husband came home and realized thieves had broken in and ransacked their bedroom. She says she was planning to pass on the collection to her newborn grandson.
“I thought this is something I could pass on to him, maybe put into a college fund for him or do something that would benefit him in the long run and you know, now it’s gone,” said Skytta.
The Skyttas believe there were at least two thieves, because the change was so heavy. Police are checking with area businesses to see if anyone has cashed in large amounts of coins. Read More....
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[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
